IRM professional standards

2.3 Providing activities and summative assessments (sometimes called assessment of learning is a formal method to evaluate learning by comparing learning to a standard or benchmark. This is typically at the end of a unit, module or time period. Summative assessment often takes the form of a unit or module test), to progress students to the next unit or module:

• Each unit includes several activities that provide students with the opportunity to practically apply what they have been taught through the lessons. Each activity is followed by sample answers from the IRM to ensure the student fully understands what was being asked of them. • The modules include an introductory and a summary video. Module 1 includes an additional examination guidance video, followed by access to a specimen multiplechoice examination paper, that supports students when sitting the examinations as it provides them with knowledge of the examination format and the expectations of the examiners. Module 2 includes an additional assignment writing video which provide students with guidance on academic writing.

3. IRM Professional Standards

The IRM professional standards are designed so that they can be used by anyone involved in risk management. They are flexible and can be adapted and used in all types of organisation, sector, and geographical regions.

The IRM Professional Standards has four functional areas broken down into risk functional area components. They are:

• Insights and context

 risk management principles and practice  organisational environment  external operating environment.

• Strategy and performance develop a risk management strategy to meet organisational needs

 risk management strategy and architecture  risk management policy and procedures  risk culture and appetite  risk performance and reporting.

• Risk management process

 risk assessment  risk treatment.